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Read more ...Before you sign up for a new business, you should ask yourself whether it is more important to find new customers or retain old customers. The more customers you have, the higher your return will be to the initial investment in the business. The average lifetime value of a customer is about 6 times higher for those who use their services once than those who use their services regularly. Therefore, losing a customer through lack of loyalty is much more expensive than gaining a new one by your brand advertising efforts.
Read more ...In marketing, there are, generally speaking, two types of visibility: external and internal. External visibility is the one usually focused on by business owners, while internal visibility tends to be put on the back burner. However, both are equally important and should be considered in your business plan.
Read more ...There are a number of marketing strategies that can help the small entrepreneurs in their business activities. Marketing strategies can be divided into two major categories – internal and external marketing strategies. Internal marketing strategies are those that a company uses to increase sales, reduce costs, minimize risk and influence other employees to perform well. External marketing strategies focus on attracting potential customers through advertising or communication with companies or individuals outside of your organization.
Read more ...The book begins with an overview of decision trees and discusses how decision trees are related to other concepts such as decision theory, optimization, and statistical inference. The author then explores the use of decision trees in data mining tasks and describes how these techniques complement and supplement other business intelligence applications, such as dimensional cubes (also called OLAP cubes) and data mining approaches, such as regression, cluster analysis, and neural networks. The author then demonstrates how decision trees can be used to solve real-business problems by applying them to scenarios in manufacturing, sales forecasting, CRM applications and marketing analytics.
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